October 5, 2026
The State of Defence Tech 2026
Defence tech VC funding is now the fastest-growing sector in European venture capital. The State of Defence Tech 2026, produced with Resilience Media, covers record funding, Munich's rise, the growing role of US investors, talent pipelines and procurement.
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Selected charts
Companion charts derived from this report — open any chart in full-screen on the right side.
European defence startups have raised $7.4B so far in 2026
VC investment in European defence startups by year. 2026 is already the largest year on record and is projected to reach $10.5B.
Defence tech takes 11.1% of European VC funding in 2026
Defence tech's share of VC funding rose from under 1% before 2021 to 11.1% in Europe and 15% in the EU 27 in 2026.
The record European defence VC round has grown to $1.8B
Each new record for the largest European defence VC round since 2020, from ICEYE's $87M to Helsing's $1.8B Series E in July 2026.